Strong Bearish Signal:
The price continued falling, so the local downtrend with this currency pair is going on. Moreover, this fall totally absorbed the previous rise, which is a good bearish signal.
Volume Zones:
It is necessary to point out the support level 1.1878 - 1.1887. The price is testing this level at the moment.
Sentiment:
This indicator shows that 55% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a25/2103/8b/2dc21aaf823b.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will consent us to open short positions. The move must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
The price continued falling, so the local downtrend with this currency pair is going on. Moreover, this fall totally absorbed the previous rise, which is a good bearish signal.
Volume Zones:
It is necessary to point out the support level 1.1878 - 1.1887. The price is testing this level at the moment.
Sentiment:
This indicator shows that 55% retails traders are in long positions, which is a good additional signal for us (trading against the "crowd").
https://a.radikal.ru/a25/2103/8b/2dc21aaf823b.png
Consider Short Positions:
Given all these factors, we may regard a breakdown of the support level, which will consent us to open short positions. The move must be keen and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss may be placed above the breakdown volume bar.
Profit Potential:
More than 100 pips.
To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
